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United States Senators Demand Disclosure of Interactions with Sam Bankman-Fried
United States Senators Elizabeth Warren (D-MA) and Charles E. Grassley (R-IA) have demanded that Commodity Futures Trading Commission (CFTC) Chair Rostin Benham disclose details of his interactions with disgraced FTX founder Sam Bankman-Fried prior to the exchange’s collapse.
Request for Information
In a letter addressed to Benham, the senators requested a full accounting of all meetings, phone calls, and written correspondence between the parties involved. They also asked for a timeline of the commission’s knowledge of the cryptocurrency scheme concerning Bankman-Fried, Alameda Research, and former executives of the now-doomed crypto exchange.
Concerns Raised
The senators expressed concerns about the impact of the massive crypto scam orchestrated by Bankman-Fried, which resulted in significant financial losses for customers. They emphasized the need for Congress and market regulators like the CFTC to investigate how such a crime was allowed to happen.
Renewed Interest in FTX Ties
This latest development follows a similar letter from Senator Josh Hawley (R-MO) to other government officials, demanding a full investigation into the criminal acts and their enablers. Hawley highlighted the importance of conducting a conflict-of-interest review to ensure accountability.
Continued Scrutiny
Bankman-Fried has faced criticism for his interactions with regulatory officials and his attempts to influence crypto regulation. Despite filing an appeal against his guilty verdict, he faces significant challenges due to the overwhelming evidence against him.
Conclusion
The letter from U.S. lawmakers to Benham signals a renewed interest in uncovering ties between government officials and individuals involved in the crypto scandal.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
